Crescent European Specialty Lending Announces Financing for the Acquisition of PlayGreen by Bruin Capital
May 02 2024 - 3:00AM
Business Wire
Crescent Capital Group LP, a leading alternative credit
investment firm, announced today that its European Specialty
Lending strategy has provided financing to support the acquisition
of PlayGreen B.V., a Netherlands-based holding company whose
subsidiaries form one of the world’s leading natural turf
management companies, by U.S.-based private equity firm Bruin
Capital.
PlayGreen is comprised of Stadium Grow Lighting (SGL) and ALVA
Technology and their subsidiaries. Together, the group’s
proprietary technologies and comprehensive R&D systems are
responsible for the growth and maintenance of natural grass fields,
pitches, golf courses, tennis courts, and playing surfaces for more
than 600 international sports teams, leagues, and governing bodies
around the world. Founded in 1997, the group’s customised solutions
support facilities and venues that produce thousands of
competitions annually. Among its long-term clients are Tottenham
Hotspur, Bayern Munich, FC Barcelona, Arsenal, the Dallas Cowboys,
Milwaukee Brewers, Boston Red Sox, Wimbledon, Twickenham (rugby),
and hundreds more of the industry’s most prestigious sports
entities. The company’s offerings comprise fully integrated turf
management solutions such as LED grow light systems, UVC light
machines, turf fans, as well as services including data monitoring
solutions and maintenance.
“Partnering with Bruin Capital and PlayGreen on this financing
represents an exciting opportunity for Crescent to work with a
highly-innovative, forward-thinking sponsor and support the sports
industry’s go-to provider of unique turf solutions,” said Christine
Vanden Beukel, Managing Director and head of Crescent’s European
Specialty Lending strategy. “This transaction will help PlayGreen
globally expand – particularly in the U.S. – and add complementary
products, technology and services through investment and M&A as
part of their partnership with Bruin Capital.”
About Crescent Capital Group LP
Crescent is a global credit investment manager with $43 billion
of assets under management as of March 31, 2024. For over 30 years,
the firm has focused on below investment grade credit through
strategies that invest in marketable and privately originated debt
securities including senior bank loans, high yield bonds, as well
as private senior, unitranche and junior debt securities. Crescent
is headquartered in Los Angeles with offices in New York, Boston,
Chicago and London with more than 225 employees globally. Crescent
is a part of SLC Management, the institutional alternatives and
traditional asset management business of Sun Life. For more
information about Crescent, visit www.crescentcap.com.
About PlayGreen B.V.
Headquartered in Waddinxveen, the Netherlands, PlayGreen with
its two main subsidiaries: Stadium Grow Lighting
(https://sglsystem.com/) and ALVA Technology is a leading
horticultural technology company, specialised in the design,
development and manufacturing of innovative lighting solution for
grass growing in controlled environments (i.e. sport venues).
Derived from a passion for sports and grass, Stadium Grow Lighting
provides the biggest sports venues and clubs worldwide with
data-driven technology and expert support to maintain a consistent,
high-quality, and safe grass playing surface in the most
sustainable way possible. SGL's service and products rely on a
data-driven approach, from in-depth data analysis to
smart-operating equipment. Smart technology supports the grounds
manager by advising on where, when, and for how long you should use
your products to get the best results. This enables grounds teams
worldwide to utilize their precious time and resources efficiently
and effectively and reach the highest results possible. The
extensive research and support from SGL's agronomy department
assures customers that they use their products as effectively and
efficiently as possible. This way, they can guarantee the highest
possible grass quality and maximum energy savings.
About Bruin Capital
Founded in 2015 by George Pyne, Bruin Capital
(www.bruincptl.com) is an Investment / Operating Company
Specializing in Global Sports. Since its launch, Bruin has raised
more than $1 billion in committed capital and has closed nearly 40
acquisitions. The current portfolio includes Engine Shop, Fair Play
Sports Media, Full Swing, Proof of the Pudding, Soulsight, and TGI
Sport. Their collective operations include more than 5,000
employees across five continents. Their work impacts billions of
sports fans on behalf of virtually every major sports league, media
company, federation, and rights holder.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240502156244/en/
Mendel Communications Sarah Troutt, +1-917-664-0319
sarah@mendelcommunications.com